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November 20, 2009, 12:43 PM ET
U. of California Regents Back Deal to Reopen Troubled L.A. Hospital
Martin Luther King Jr. Hospital, in South Los Angeles, will reopen by 2013 under a plan unanimously approved Thursday by the University of California’s board, according to the Los Angeles Times.
The board’s vote came after county officials pledged to seek a $100-million letter of credit to underwrite the hospital for up to six years. The pharmaceuticals billionaire Patrick Soon-Shiong has also promised a $100-million guaranty.
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